Over-assessed vs. comparables

7200 Heards Ln

Galveston, 77551 · Galveston County, Texas · multifamily property · 214,030 sq ft · Texas Tax Code §42.26

$59,022estimated overpaid in property tax / year

This property's assessment sits above the comparable basis its tax bill should follow — a strong opening for an appeal.

What the public records show

Galveston public rollTexas
Current assessment$14,150,000
What the comparable appraisals support$11,467,170
Estimated over-assessment$2,682,830 · 19.0%
Comparable basis$54/SF
Estimated tax saved / year$59,022

Straight from the public Texas roll. The estimated saving applies an estimated composite millage to the over-assessment. We adjust comparables for size, age, and location before we say a word about your property — and we never name owners.

The comparable basis

The 8 comparable appraisals behind the number

Each comparable is adjusted toward this property for size and age, then we take the median. Owners are never named — only the public assessment figures matter.

Comparable assessment $/SFAdjusted $/SFSizeBuilt
$28$29252,615 SF1970
$34$33206,644 SF1961
$42$43287,343 SF1972
$46$45197,195 SF1971
$55$53152,801 SF1969
$55$55210,320 SF1971
$60$63253,264 SF1975
$64$65184,813 SF1976

Why this is the lever

Texas Tax Code §42.26

Under §42.26, if a property is appraised above the median appraised value of a reasonable number of comparable properties (adjusted for size, age, and location), the value must be brought down to that median.

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